SIU Student Team Makes It To Compete In The National Business Competition After Beating Top Schools At Regional Competitions.
CARBONDALE, Ill. -A Southern Illinois University Carbondale business student team is preparing for an international competition for business-related solutions after securing top marks during the regional competition, which saw the Salukis beat two of the top competitors in the nation over the past two years. The thing that makes the win even more impressive is the fact that it is only the second time that SIU has been a participant at an event like the Deloitte FanTAXtic Case Competition, which presents students with a real business scenario and asks students to come up with solutions that take into account tax and business consequences.
All across the nation, thousands of college students and alumni from over 40 colleges and universities took part in regional competitions hosted by Deloitte Tax LLP, with the top two teams from each region making it. SIU was an overall Region 5 winner and beat the competition, which included the 2020 national champion, Truman State University, Baylor University, and other strong rivals. It is the University of Northern Iowa, the national contest’s runner-up in 2021, is also the university that is advancing to the nationals from Region 5.
Saluki team members are:
- Mackenzie Piazza is a senior accounting and finance major from Normal, Illinois.
- Matthew Carrazco is a junior accounting major from Des Plaines, Illinois.
- Lexie Lingle is a sophomore accounting major from Anna, Illinois.
- Jayda Smith is a sophomore majoring in accounting at the University of Illinois and comes from Marion, Illinois.
- Ben Morgan, a freshman finance major from Kankakee, Illinois.
- Tim Hurley, accounting clinical assistant professor, is the team’s faculty advisor.
- Piazza said she was thrilled to participate in the team when she learned about it.
“Deloitte is among the most profitable professional service firms worldwide,” she said, “and I was hoping to show the company that SIU is home to top-performing students and could benefit from bringing it to their organization.”
She was also determined to demonstrate to all others that SIU can compete with the best schools nationwide. She and her team believe that they have achieved this feat.
Affirming a real-life challenge
The contest provides an experiential learning experience that complements the classroom instruction of students to prepare future generations to pursue a career in tax and business, Hurley said, as it gives students a chance to tackle a complex tax problem in real time. The contest’s interactive format comprises cases, role-playing, and a presentation that provides students with knowledge and insights into the issues that tax professionals face today, the future, and the ever-changing tax landscape for businesses. Deloitte Tax LLP professionals, partners, and managers offer students guidance and support throughout the contest, and they act as clients.
Each student group at the university was assigned a specific situation to deal with, such as, for example, a “client” who runs an enterprise and wishes to create a separate business. To fund the start-up, the owner can sell any of three investments, including two kinds of stocks or federal-I bonds. Which would result in the lowest tax burden depending on the individual’s circumstances and current business earnings? What type of organization should the customer create in light of taxes and other considerations regarding the client’s financial projections? These were the issues the SIU team was required to consider, and then they made detailed recommendations along with the evidence to support their decision.
The regional Zoom contest, held in late December, demanded that participants create a PowerPoint that outlines their recommendations in an oral presentation and respond to questions from judges. Hurley stated that the competition could help students improve their teamwork, problem-solving, and public speaking abilities and offer an excellent opportunity for participants to discover what employment in taxation can look like.
Piazza was aware of this when prepping for the contest the tax-focused work and research, taking tax-related decisions similar to the ones that are made in real-world businesses performing the calculations, and proving the credibility of the recommendations, as well as various other elements of the contest, will be similar to the challenges she’ll be dealing with during her career in accounting, and that’s an invaluable learning knowledge.
“It was something I had never experienced before we began preparing for the competition; however, I tried to implement what I’d learned from the course I’m currently taking, and it did the trick,” Carrazco said.
Many hours of hard work are required.
Lingle explained that the competition offered the perfect opportunity to test her research skills and identify her strengths while also learning about taxes and working in tandem with fellow SIU student business majors.
It was reported that the Saluki team spent around 5-7 hours per week researching their knowledge of the Internal Revenue Code and calculating the tax consequences of various decisions they believed the “client” was weighing, Piazza said. After taking regular classes in accounting and business, they came together to “take an in-depth look at tax issues that many entrepreneurs, companies, and individuals need to think about.”
“We had a lot of fun doing our meetings at the library and working through Zoom,” Lingle said. Lingle said that despite being laborious and time-consuming, through a lot of trial and failure, it was an enjoyable experience also.
“Each group member worked determinedly to finish their work and assist other team members when necessary,” she said.
Lingle Smith and Lingle Smith were on the same team when the results were announced, and they were both pleasantly surprised and thrilled. “I am extremely satisfied with the effort and work of my team,” Lingle said. “We performed extremely well together and were in a position to show our abilities when working on this project.”
Piazza said he agreed, saying that, after spending so much time researching and creating slides for the presentation, which was followed by hours of working on the display before the competition day, “it felt like a huge weight was lifted off of our shoulders, and that all the hard work paid off. It was also very satisfying to realize that we had performed better than many of the most prestigious accounting programs across the country to surpass them and earn an opportunity to advance.”
Hurley said that the team’s hard work and dedication are exemplary.
He said that although he offered the team tips and general information regarding the contest, they independently performed the entire planning and actual competition tasks. Furthermore, according to him, they managed to secure winning even though only two students had taken a tax course during their college years, even though they did have previous business classes.
“These students are extremely engaged, not just in school and class, but also working as well as other activities outside of school,” Hurley said. “They are highly motivated and goal-oriented professionals who have done their best to be a winner in this competition. They were all there. This is what makes it more amazing.”
Benna Williams, School of Accountancy program coordinator, associate lecturer, and CPA The students showed their school well.
“I am delighted with our team members for the dedication and dedication to the competition,” she said, “and I’m grateful for Professor Hurley for helping lead the team to such amazing success and the chance.”
Smith said the award would appear “amazing” in her professional resume. “I think that employers will be delighted.”
Smith stated that thanks to her the hard work she put in and what she’s learned from SIU Smith, she’s served an internship at Hudgens and Meyer LLC in Marion and has secured a second internship in the winter and summer of 2024 at Smith’s St. Louis office of Grant Thornton LLC. In addition to the win in the competition, Smith believes she’s received an excellent start on her career in accounting because of her SIU knowledge and experience.
The students are busy preparing to participate in the fantastic competition on Jan. 20-22 of 2023, located at Deloitte University in Westlake, Texas. SIU will face 15 competitors in the live match, sponsored by Deloitte Tax LLP with support from Deloitte Foundation. Deloitte Foundation.
“Going to the competition at the national level, we’re looking forward to learning more and tackling the challenges together,” Piazza said, noting that the team has become good friends, which means it’s more fun to work together in analyzing complex tax-related issues. “We are thrilled to continue proving that Salukis can compete with the best accounting software in the country.”
Seven YouTube Tips and Strategies to Grow Your Business.
YouTube is an effective instrument that companies can make use of to expand their reach and expand their customer base. With more than 2 and half billion active monthly users, YouTube provides businesses with an enormous platform to showcase their goods, services, and brand messages. With such a massive and popular user base, It can be difficult to stand out from the other videos and have your video seen by prospective customers.
This is why we’ve compiled the following list of seven suggestions and strategies that you can make use of to expand your company’s presence on YouTube. From optimizing your YouTube videos to ensure SEO and adding annotations and ending screens to entice viewers to act, These tips can enable you to get the most value out of YouTube and increase your revenue.
Seven YouTube Tips and Strategies to Expand Your Business.
Optimize your Videos to be SEO-friendly
If you would like your videos on social media to be seen by prospective clients, you must improve them to be optimized for SEO or search engine optimization (SEO). That means you should include relevant keywords within your titles and description so that your videos will appear more prominent on search results. It is also possible to use tags in your videos.
Can add tags to make videos more optimized for SEO.
Tags are words you use to identify your video. YouTube utilizes these tags to categorize and index your video content. By making a bit of work and effort, you can ensure that your videos on social media are doing their best to work hard to bring new viewers to your website.
Utilize End Screens
Screens, in the end, are an enjoyable and effective way to advertise your other channels, videos, and websites. They can also serve as a guide and make it easier for viewers to subscribe to your channel or share your content. To add an end-screen to your YouTube channel, you must visit the YouTube Studio and click on the “End Screens” tab.
In the next step from there, you can incorporate images, texts, or videos to advertise whatever you’d like to. Be sure to ensure that the ending screen appears towards the very end of the video and does not interfere with your viewing experience. If you’re creative, screen endings can prove to be an effective instrument for boosting the popularity of your Youtube channel.
Create Engaging Thumbnails
The most significant but still largely ignored element in your video is the thumbnail. It is the first impression people see as they view the video. Therefore it’s vital that it’s attractive and interesting. It’s good to know that there are a handful of steps that you can use to ensure that your thumbnails are top-quality. Choose images which is appropriate to the content of the video and which will draw people’s interest.
Make sure that your image is at a high resolution. Then, make sure the image is of high quality and resolution. After everything, the goal is for the viewers to be able to clearly see the things they’re clicking. Also, you can add text to the thumbnail. It may be the title of your video or catchy slogan, or any other thing which will draw the attention of viewers. If you follow these steps by following these steps, you can make sure your thumbnails will be able to get more views and increase the number of views on your YouTube channel.
Leverage Social Media
If you’re the proprietor of a small or perhaps a mid-sized company, You’re likely aware of the importance of promotion. It is crucial to bringing customers and increasing sales. There are several ways to promote your product or services. However, the best and yet the most affordable is by using social media. If used correctly, the platforms can aid in reaching many people and increase the visibility of your content for a larger public.
How can you utilize social media to market the popularity of your YouTube videos? Make sure you publish your videos on each of your social networks. This can help boost the exposure of your video and ensure that they are noticed by the maximum number of people possible. Consider also making use of paid-for promotion tools, for example, Facebook advertisements or tweets that are promoted by Twitter.
They allow you to focus on a particular group of people and greatly increase the exposure of your content. Remember to add hyperlinks to your videos within the signature of your email Signature and on your site. If you take advantage of each of these channels for promotion that you can use, you can significantly improve the number of viewers who watch YouTube video content and increase visitors to your site.
Work with other YouTubers
One of the best and best methods to gain increased views on YouTube videos is participating in collaborations with YouTubers with an audience similar to yours. There are several different ways that you can explore collaborating with other creators using YouTube.
As an example, you can create a Q&A joint video and host one another in videos, or make sure you promote each other’s content through the videos you make. One of the most crucial aspects is to identify a YouTuber with a similar market as you do in order you can get new viewers via the channel.
If you’re looking for a guaranteed amount of visibility for your YouTube videos advertising with paid advertisements is the best option. YouTube has options for ad formats. They include in-stream ads (ads that appear before and after, as well as during the content) as well as discover ads (ads that appear in the results of searches or are used as suggestions), and bumper ads (short non-skippable, short ads). Advertisements that pay are an effective method to increase the number of viewers to your content since they place your videos in the hands of people who are already curious about your content.
Make use of Copyright-Free Music and SFX.
Music that is free of copyright and royalty-free music and SFX can provide great methods to add an additional dimension of excitement to YouTube videos. There are several sources of copyright-free music and SFX available online, and many of them are accessible for use at no cost. It is important to be aware of the conditions of each source prior to making use of any content from them.
Some sites may ask that you attribute your music and SFX to them. However, others permit you to utilize it with no attribution. After you’ve identified an option you’re happy with, take the music files as well as the SFX files and incorporate them into the video. With a small amount of thought and preparation, you can quickly add copyright-free music and SFX to YouTube videos and provide them with the professional look you’re searching for.
The End of the Story
These are some of the strategies you can utilize on YouTube to increase your sales and profits. If you are willing to put in the effort and energy, you’ll be stunned by the speed at which you’ll see your positive results! Making a YouTube channel successful requires patience, perseverance as well as creative thinking, and some trial and trial and time at the end of the day.
Do You Want To Use Your Home As A Business Location? There are 5 Things To Consider.
We’ve discovered through the COVID outbreak that many of us can work in the comfort of our homes. This is why there’s been an increase in the number of people who want to make their Home for business purposes.
Making your Home an office space has many benefits. In the beginning, you’ll lower costs, such as rent and other rates. Additionally, you’ll be in control over the working conditions.
However, it’s not smooth sailing. There are some drawbacks to be conscious of. This article will explore certain things to be aware of before utilizing your house as an office premise.
5 Reasons to Think About Using Your House as Your Business Location
1. Know the difference between Converting your Home to work from the comfort of your Home
First, you must know the differences between turning your Home into commercial premises and working as an employee from at Home. If you’re running an enterprise from Home and want to expand your business, it’s necessary to modify your Home to make room for the situation.
Know the difference between converting your Home into a Work From Home. For instance, you might have to create an area for work with distinct phone lines and internet connectivity and ensure that your insurance policy will cover business-related actions.
2. Take a look at the legal aspect
Additionally, there are legal issues that you have to be aware of. As an example, you’ll have to consult with your local authority about what you have to do for planning permits or permits.
It is also necessary to ensure that your company complies with all relevant laws and regulations regarding health and safety. In addition, if you employ employees who work for you, you’ll have to follow the rules regarding employment.
Zoning regulations are yet another factor to think about. The regulations may differ between different areas, and it’s essential to determine the laws for your specific area.
3. Think about the financial implications
There are various issues with finances you’ll need to be aware of. In particular, you’ll have to ensure you’re still in the tax-free zone or benefits for which you have a right.
Are You Planning to Make Your House a Business Location – Five Things to Think about – Consider the financial implications of how your homeowner’s insurance affects your company. If you’re a homeowner with any mortgages on your Home, it is essential to inquire with the lender to determine their restrictions regarding using your Home to run a business.
4. Consider the practical implications
Consider thinking about how your company can impact family time. Also, it is essential to consider the noise level, parking, and deliveries. Also, you must ensure that you have sufficient space to allow for the growth of your business.
If you are dealing with products you want to wrap or ship and then keep, you must ensure you have enough storage space. Suppose you decide to go using top-quality custom packaging by StickerYou. In that case, it is essential to consider the area for the packaging products and the room needed to pack and transport them.
Also, it is essential to consider where your customers can collect their items if you provide local delivery or pickup in-store.
5. Think about the Tax Implications
If you are using your house as your office, it is necessary to inform HMRC that you are doing so. Also, you will need to consider how your company will be taxed.
In other words, you must be taxed on income profits even as a sole trader. If you decide to create a limited-company and are a corporation, you must pay tax on your earnings.
Be aware of the tax ImplicationsIn short, changing your house into a commercial location can be a fantastic option to cut costs and gain more control over the working space. However, it is essential to take into consideration a number of factors prior to you making the move. When you’re sure you are able to handle the consequences, then you are able to enjoy the advantages.
How Does Business Car Leasing Function?
Suppose you want to enhance your professional profile or benefit from the tax advantages of business cars. In that case, leasing can be a straightforward and economical way to access high-end vehicles for yourself and your employees.
For entrepreneurs who are sole traders or limited companies, as well as those who are in fixed partnerships and limited Liability Partnerships, a business lease car lets you change your car’s model every couple of years at an affordable monthly fee.
In this article, we’ll detail how business leasing deals for cars are made, how they differ from personal leasing, and how you can cut costs through a lease for a business car.
What exactly is business car leasing?
Instead of purchasing a vehicle for yourself, leasing a business vehicle lets you access brand-new cars with a fixed monthly fee, which is typically spread over one and five years.
Since you’re not paying for everything associated with the car, a company car lease is cheaper than other forms of finance, such as Hire Purchase. Additionally, if you use the vehicle only to travel for work, you are entitled to reclaim 100% of the tax on rental payment and servicing expenses, as well as miles and fuel. Any personal use of the car will decrease the amount of VAT you could claim back.
What is the process for leasing a business vehicle? Operate?
Models and makes available vary depending on the provider; however, whether you require an executive vehicle or a transport van, leasing a business vehicle can help you locate an automobile that meets your needs at a meagre cost per month.
To qualify to be eligible, your company must operate, be able to show solid results and undergo a credit screening to confirm that you can pay the lease’s monthly payments.
At the beginning of your lease, you’ll have to make an initial payment of between 3 and 12 monthly instalments, which are later deducted from the total cost of the lease. This will be called ‘6+23’, meaning you’ll pay 6 months in advance and the rest over 23 equal instalments.
It is also possible to agree on a maximum annual mileage for your vehicle with your supplier, which could vary from 8,000- 40,000 miles per year. If you are more than this number, you’ll be required to pay an extra mile cost, so make sure you’re realistic in your estimate and, in the event of a mishap you’re unsure, allow yourself some breathing space.
Leasing for business vs personal
The most significant difference between commercial vehicle leasing and personal leasing is the possibility of claiming the VAT back from your monthly rental payments and a maintenance charge, which can help you save as much as 20% off the expense of an equivalent vehicle on a personal lease.
But the moment you utilize your car in a mix of personal and business trips. However, you’ll only be able to claim a small portion of the VAT. If your employee uses their car for private motives, they’ll need to pay a tax on benefits-in-kind that is calculated and determined by the price list of the vehicle and the CO2 emission. The lower the emission and the less tax they pay, the less.
Pros and cons, as well as tax advantages
- Cost-effective: access new vehicles for a minimal monthly cost and claim VAT
- The leasing company absorbs the expense of depreciating the value of your car, which means you won’t be charged.
- Make sure to write it off against your income – it is possible to include your leased car in your balance sheet and then write it off against the profits.
- Charges if you over the miles, return your vehicle in a damaged condition, or do not maintain it correctly. You’ll be charged.
- The vehicle must be returned to its original condition, and you will not be permitted to change it or label the car in any manner.
Some insurance companies provide ‘complete care’ plans. If not, you’ll have to take responsibility for taking out an appropriate insurance plan. It is important to note that the leasing firm is the owner registered to the car. If you don’t, it may make any claim unenforceable.
The next step
The problem is that new vehicles are costly and could be wiped out by the majority of their initial value in three years. For small businesses with strained margins, leasing cars let you enjoy a brand-new vehicle at a fraction of the price.
Alongside benefiting from the most recent technology and security features, you and your team can present an impressive image on the go and access various vehicles that can meet demands. Make sure you are realistic about the amount of mileage you’re planning to drive and look around for the most affordable price.
Seven YouTube Tips and Strategies to Grow Your Business.
Do You Want To Use Your Home As A Business Location? There are 5 Things To Consider.
How Does Business Car Leasing Function?
- Law12 months ago
The GOP’s Cornyn has chosen to lead the group as Senate discusses gun laws changes.
- Business12 months ago
Liabilities Of Directors In Business Law?
- Business11 months ago
Steps of Effective Leadership Development Program Plans.
- Crypto10 months ago
Playing Poker Online: An Introduction
- Education12 months ago
Kenneth Dam, former College provost, and Law College scholar, 1932-2022.
- Education12 months ago
Students Deepen Access to Civics Education In Hard-Fought Legal Battle.
- Health12 months ago
The Significance of Nutritional Products
- Finance1 year ago
Creating Golden Handcuffs With Premium Finance.